Which of the Following Statements Regarding PERT Times Is True

question 86

Multiple Choice

Which of the following statements regarding PERT times is true?

• A) The optimistic time estimate is an estimate of the minimum time an activity will require.
• B) The optimistic time estimate is an estimate of the maximum time an activity will require.
• C) The probable time estimate is calculated as t = (a + 4m + b).
• D) Pessimistic time estimate is an estimate of the minimum time an activity will require.
• E) Most likely time estimate is an estimate of the maximum time an activity will require.

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Definitions:

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity demanded divided by the percentage change in price.

Expenditures on Milk

The total amount of money spent by individuals or entities on purchasing milk within a given period.

Perfectly Inelastic

A situation in which the demand for a good or service does not change regardless of a change in price.

Total Revenue

The overall amount of money generated from the sale of goods or services before deducting any expenses.